Ethereum Name Service (ENS) is 21.0× the size of SuperRare (RARE) by market capitalisation. Over the past 1 year, RARE is ahead by 4.2 percentage points (RARE -59.5% against ENS -63.7%). Their daily returns move loosely together (correlation 0.46 across 399 shared trading days). RARE has been the more volatile of the two, at 110% annualised against ENS's 82%.
RAREENS
0.46over 399 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | RARE | ENS |
|---|---|---|
| Max drawdown (400d) | -78.1% | -82.4% |
| Risk-adjusted return (90d) | 0.04 | 0.17 |
| Best 30 days (past year) | +67.7% | +48.0% |
| Worst 30 days (past year) | -43.2% | -51.6% |
Relative strength over 90 days: ENS outperformed RARE by 9.3% — measured on the RARE/ENS ratio, so it holds regardless of market direction.